Conagra Brands Inc’s filing revealed that its Director LENNY RICHARD H acquired Company’s shares for reported $0.25 million on Oct 09 ’23. In the deal valued at $27.31 per share,9,238 shares were bought. As a result of this transaction, LENNY RICHARD H now holds 165,205 shares worth roughly $5.14 million.
Then, McGough Thomas M sold 75,522 shares, generating $2,497,513 in total proceeds. Upon selling the shares at $33.07, the EVP & Co-COO now owns 157,125 shares.
Before that, Brock Charisse sold 7,036 shares. Conagra Brands Inc shares valued at $260,613 were divested by the EVP, Chief HR Officer at a price of $37.04 per share. As a result of the transaction, Brock Charisse now holds 94,802 shares, worth roughly $2.95 million.
Citigroup initiated its Conagra Brands Inc [CAG] rating to a Neutral in a research note published on February 01, 2024; the price target was $30. A number of analysts have revised their coverage, including Wells Fargo’s analysts, who began to cover the stock in mid December with a ‘”an Equal weight”‘ rating. Evercore ISI also remained covering CAG and has decreased its forecast on December 11, 2023 with a “an In-line” recommendation from previously “an Outperform” rating. TD Cowen started covering the stock on September 13, 2023. It rated CAG as “a Market perform”.
Price Performance Review of CAG
On Friday, Conagra Brands Inc [NYSE:CAG] saw its stock jump 1.47% to $31.09. Over the last five days, the stock has gained 4.89%. Conagra Brands Inc shares have risen nearly 8.48% since the year began. Nevertheless, the stocks have fallen -17.27% over the past one year. While a 52-week high of $38.94 was reached on 04/05/24, a 52-week low of $25.16 was recorded on 02/14/24. SMA at 50 days reached $28.57, while 200 days put it at $29.35. A total of 10.13 million shares were traded, compared to the trading of 12.62 million shares in the previous session.
Levels Of Support And Resistance For CAG Stock
The 24-hour chart illustrates a support level at 30.64, which if violated will result in even more drops to 30.18. On the upside, there is a resistance level at 31.56. A further resistance level may holdings at 32.02. The Relative Strength Index (RSI) on the 14-day chart is 73.10, which indicates overbought technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.91, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bullish at 13.33%. Stochastics %K at 75.74% indicates the stock is a holding.
How much short interest is there in Conagra Brands Inc?
A steep rise in short interest was recorded in Conagra Brands Inc stocks on Mar 15, 2024, growing by 0.94 million shares to a total of 9.33 million shares. Yahoo Finance data shows the prior-month short interest on Feb 15, 2024 was 8.39 million shares. There was a rise of 10.08%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 2.23% of the overall stock float, the days-to-cover ratio (short ratio) rose to 2.24.
